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Extremely low selling price

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  • 12-02-2017 11:02pm
    #1
    Moody_mona
    Registered Users Posts: 1,107 ✭✭✭


    Just doing some research on the asking and selling points of an estate I'm interested in buying in. The house beside one up for sale at the moment sold a couple of years ago for €50000; the average price in this estate is 350000-400000. Any ideas why the selling price was so low? Sale within the family or something? Just curious really. Thanks!


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    #2
    CIARAN_BOYLE
    Registered Users Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Moody_mona wrote: »
    Just doing some research on the asking and selling points of an estate I'm interested in buying in. The house beside one up for sale at the moment sold a couple of years ago for €50000; the average price in this estate is 350000-400000. Any ideas why the selling price was so low? Sale within the family or something? Just curious really. Thanks!

    Sometimes partial sales goes up on the property price register. Ie Mike and Mary co-own a house. Mike sells his share then it's cheap on ppr.

    Sales below full market price between famile members are supposed to be marked as such on the ppr.


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    #3
    mickmac76
    Registered Users Posts: 400 ✭✭mickmac76


    It could be that the house had structural problems or something like fire damage or flooding. A repossessed house will often be sold off quickly at below market price but in this case the price looks too low.


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    #4
    athtrasna
    Closed Accounts Posts: 13,420 ✭✭✭✭athtrasna


    Divorce, inheritance, family sale are usually the reasons for this. Sometimes the fact that it's not a market value sale is indicated on the register.


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    #5
    Moody_mona
    Registered Users Posts: 1,107 ✭✭✭Moody_mona


    Thanks everyone, appreciate the explanation!


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    #6
    Sonas55
    Registered Users Posts: 13 ✭Sonas55


    just for the record :) sometimes it might be that there was a tragedy or someone died. or some major flaws might take place. anything really


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    #7
    Nickla
    Registered Users Posts: 131 ✭✭Nickla


    The price on the property register for my house is way below what we paid - I don't know if it's a mistake or because of the way the sale was structured - we effectively made 2 purchases - one for the land and one for the house because of the agreement between the developer and the original owner of the land. It looks like only one part of the sale was registered - the neighbours must be sick thinking we got a great bargain


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    #8
    derekbro
    Registered Users Posts: 154 ✭✭derekbro


    Nickla wrote: »
    The price on the property register for my house is way below what we paid - I don't know if it's a mistake or because of the way the sale was structured - we effectively made 2 purchases - one for the land and one for the house because of the agreement between the developer and the original owner of the land. It looks like only one part of the sale was registered - the neighbours must be sick thinking we got a great bargain

    New house prices are listed ex vat


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